Bharti Airtel pays Rs8,312.40 crore for 5G spectrum to DoT; pre-paid four years of spectrum dues

17 Aug 2022 , 12:19 PM

Bharti Airtel Limited India’s leading digital communications solutions provider, announced today that it has paid the Department of Telecom (Government of India) Rs8,312.4 crore in dues for spectrum acquired in the recently concluded 5G auctions.

Airtel has pre-paid four years of 2022 spectrum dues. The company believes that this upfront payment, combined with a four-year moratorium on spectrum dues and AGR related payments, will free up future cash flows and allow Airtel to devote resources solely to the 5G rollout.

Airtel has also cleared Rs24,333.7 crore of deferred spectrum liabilities in the last year, well ahead of scheduled maturities.

Gopal Vittal, MD & CEO, Bharti Airtel Ltd., spoke about pre-payment of dues “Given our operating free cash flow, this four-year upfront payment enables us to drive 5G rollout in a concerted manner. Airtel also has access to Rs15,740.5 crore in capital from an unnamed rights issue.”

He added, “We are excited to bring a world-class 5G experience to the country with the ideal spectrum bank, best technology, and adequate free cash flow.” 

Bharti Airtel was trading at Rs720.60 up by 2.39% from its previous closing of Rs703.80 on the BSE. The scrip touched intraday high and low of Rs721.55 and Rs702.80 respectively.